Bharati Shipyard signs contract with UP Offshore

New Delhi, Apr 23: Bharati Shipyard Ltd today signed a contract worth Rs 180 crore with South America-based UP Offshore (Bahamas) Ltd for construction and supply of two Platform Supply Vessels.

Company's Managing Director P C Kapoor said, '' The Bharati Shipyard is the first Indian shipbuilding company to have bagged this order. The UP Offshore prestigious order reinforces BSL's premier ranking amongst the leading shipbuilding company across the world in the offshore segment.'' A Platform Supply Vessel (PSV) is a ship specially designed to support offshore oil platforms. The primary function of these ships is to service the offshore oil platforms including supply of drilling mud, pulverised cement, diesel fuel, portable and non-portable water and chemicals used in the drilling process.

UP Offshore (Bahamas) Ltd, a subsidiary of Ultrapetrol (Bahamas) Ltd, is engaged in construction and operation of Platform Supply Vessels that provide services to offshore petroleum exploration and production companies primarily in the North Sea and Brazil.

UNI